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Autodesk 3Q Net Jumps 82%; Shares Down As EPS Views Cautious

DOW JONES NEWSWIRES Autodesk Inc.'s (ADSK) fiscal third-quarter profit jumped 82% as revenue rose and margins surged. But shares slumped 4.7% to $34.55 in recent after-hours trading as the company forecast a fourth-quarter profit of 30 cents to 33 cents a share on $500 million to $520 million in revenue. Analysts had forecast 34 cents and $502 million, respectively. The maker of the popular AutoCAD design software used by engineers and architects has seen sales pick up in recent quarters, reversing a previous trend of declines amid the global downturn. Recent architecture billings and other data suggest a positive demand environment for its software licenses this year, according to a Jefferies note this week. For the quarter ended Oct. 31, Autodesk reported a profit of $53.6 million, or 23 cents a share, up from $29.5 million, or 13 cents a share, a year earlier. Excluding items such as stock-based compensation, earnings rose to 32 cents from 26 cents. Revenue jumped 14% to $476.7 million, following last year's 31% plunge. In August, the comany forecast earnings of 28 cents to 33 cents on $450 million to $475 million in revenue. Operating margin surged to 14.5% from 6.3% amid higher revenue and lower stock-based compensation expenses and the absence of restructuring charges in the latest quarter. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

Stock News for Autodesk (ADSK)
11/24/201516:50:10Statement of Changes in Beneficial Ownership (4)
11/23/201515:59:15Initial Statement of Beneficial Ownership (3)
11/23/201508:00:00Autodesk to Present at Upcoming Investor Conferences
11/19/201516:02:02Current Report Filing (8-k)
11/19/201516:01:00Autodesk Reports Third Quarter Financial Results
11/18/201508:00:00Autodesk & ZWCAD Software Co. Resolve Disputes Relating to Software...
11/16/201508:01:24Amended Statement of Beneficial Ownership (sc 13d/a)
11/16/201508:00:56Statement of Beneficial Ownership (sc 13d)
11/09/201518:14:09Statement of Changes in Beneficial Ownership (4)
11/09/201518:10:38Statement of Changes in Beneficial Ownership (4)
11/04/201519:10:00Sachem Head Capital Reports Autodesk Stake
11/04/201516:19:33Statement of Beneficial Ownership (sc 13d)
11/03/201516:42:53Statement of Changes in Beneficial Ownership (4)
11/03/201516:40:45Statement of Changes in Beneficial Ownership (4)
11/02/201508:30:00Autodesk Extends Invitation to Join Financial Results Conference...
10/13/201516:18:46Statement of Changes in Beneficial Ownership (4)
10/09/201516:24:14Autodesk posts 9% gain following JPMorgan meeting
09/30/201508:00:002015 Autodesk Excellence in Infrastructure Global Winners Announced
09/29/201508:57:00Technical Snapshot on the Information Technology Sector -- Altera...
09/29/201508:30:00Autodesk Reiterates Third Quarter and Fiscal Year 2016 Business...

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